Business
Riverside Resources Outlines Corporate Growth Plans for 2018
VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX-V:RRI) (OTC Pink:RVSDF) (Frankfurt:R
About this update from Riverside Resources Inc
[{"type":"text","content":"VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Riverside Resources Inc. (\"Riverside\" or the \"Company\") (TSX-V:RRI) (OTC Pink:RVSDF) (Frankfurt:R99) is pleased to provide an overview of the Company’s goals and growth plans for the coming year. Riverside enters 2018 with partner-funded drill results expected from two projects early in Q1. The Company completed its first financing in six years during March 2017, raising C$3.44M. Riverside enters 2018 well positioned corporately with a tight share structure (less than 45,000,000 shares outstanding), a strong cash position (C$3,500,000) and no debt. The Company will aim to build on the successes achieved during 2017. Riverside had a successful 2017 that included the consolidation and acquisition of the Cecilia Project in Sonora, Mexico. Riverside spent its own funds working up and exploring the Cecilia Project (sampling chip-channels of 1-2 metres in length with a 3.0 metre wide zone showing an average grade of 5.45 g/t Au - see press release July 25, 2017), with new proposed drill targets now in place. In addition, Riverside geologists re-examined drill cores and re-logged fifteen Jesus Maria drill-holes creating new high-grade drill targets at the Peñoles Project. Both of these lead projects were permitted for drilling during the later part of 2017 in anticipation of partner or self-funded drill campaigns commencing this winter/spring. Riverside has been hard at work generating and evaluating its options for advancing these assets and believes both projects will generate strong news flow early in 2018. The list below outlines some of the key catalysts and corporate growth plans for 2018: Drill results expected early in Q1 from the Puerto El Alamo Target Area at the Glor Gold Project (Partner: Centerra Gold). Drill results expected early in Q1 from the Clemente Silver-Gold Project(Partner: Silver Viper Minerals). Riverside expects to deliver drill campaigns at the Peñoles and Cecilia Projects in 2018. Partner, Croesus Gold Corp., expected to complete a go-public transaction in 2018 (Riverside currently owns 3,800,000 Croesus common shares and holds a 2% NSR on the Sugarloaf Peak Project). New partnerships will be explored to advance the Company’s 100% owned projects (Tajitos, La Silla, Thor, Ariel). The Company expects multiple new JV deals in 2018. Riversid...